6 of the best notice savings accounts

Lieke Braadbaart

Notice accounts offer an attractive alternative for savers who want a higher rate than can be found on easy access accounts without losing access to their money for a whole year or more. Given the many different notice periods available, most savers should be able to find a compromise that works for them.

Notice savings accounts let you access your money on the provision that you tell your provider in advance, thereby offering flexibility and decent rates in one handy package. Some providers will even let you withdraw the cash earlier should you need to, although this will usually be subject to an interest penalty, so savers will still need to be organised to benefit from this type of account.

Due to their nature, they're mainly suitable for those who are comfortable giving some form of notice and should probably not be used for an emergency fund, for example, as you usually won't have time to give notice if an emergency hits. However, if you're confident that you won't need instant access to a portion of your savings and don't want to lock your money away for too long, they could be ideal.

With that in mind, here are the current top-paying notice accounts that can offer a great rate alongside a certain degree of flexibility. Note that as with easy access accounts, the rates on these accounts are variable, which means they can change.

AER

Details

Gatehouse Bank120 Day Notice Account

1.87%(expected profit rate)

Minimum investment of £1,000

Further additions allowed at any time

Withdrawals only permitted on 120 days' notice

No earlier access

Internet-operated

Interest paid on its anniversary and must be paid away

Sharia'a compliant account

At the top of the chart is Gatehouse Bank, with a 120-day notice account that offers a market-leading expected profit rate of 1.87% from a minimum deposit of £1,000. Further additions are welcome and unlimited withdrawals are also allowed, but the required 120 days' notice must always be given for the latter.

AER

Details

Secure Trust Bank180 Day Notice Account

1.86%

Minimum investment of £1,000

Further additions of at least £1,000 allowed at any time

Three capital withdrawals and four interest withdrawals permitted per year, subject to 180 days' notice

No earlier access

Account must be opened online, but can then also be operated by phone

Access via nominated account

Interest is paid quarterly

In second place sits Secure Trust Bank, with a near market-leading rate of 1.86% AER (1.85% gross) but this time on 180 days' notice. A minimum investment of £1,000 is again required, with additional deposits having to be for at least that amount too. The fact that interest is paid on a quarterly basis may appeal to some savers, but it should be noted that only a limited number of withdrawals are allowed per year, and all will require the full notice period to be served.

AER

Details

Gatehouse Bank95 Day Notice Account

1.85%(expected profit rate)

Minimum investment of £1,000

Further additions allowed at any time

Withdrawals permitted subject to 95 days' notice

No earlier access

Internet-operated

Access via nominated account

Interest is paid on its anniversary and must be paid away

Sharia'a compliant account

Gatehouse Bank does it again with a second account making it into the top three. This deal requires 95 days' notice on a minimum investment of £1,000, in exchange for an anticipated profit rate of 1.85%. Its other features match the above account, making this an appealing alternative for those who don't want to give too much notice.

AER

Details

Secure Trust Bank120 Day Notice Account

1.84%

Minimum investment of £1,000

Further additions allowed at any time (min. £1,000)

Three capital withdrawals and four interest withdrawals permitted per year, subject to 120 days' notice

No earlier access

Account must be opened online, but can then also be operated by phone

Access via nominated account

Interest is paid quarterly

Secure Trust Bank also manages to get a second account into the top six, with its 120-day notice account paying a highly attractive rate of 1.84% AER (1.83% gross) on a minimum deposit of £1,000. Its other features match the 180-day account, making this a welcome alternative for those looking to have their interest paid on a quarterly basis.

AER

Details

Secure Trust Bank90 Day Notice Account

1.82%

Minimum investment of £1,000

Further additions of at least £1,000 allowed at any time

Three capital withdrawals and four interest withdrawals permitted per year, subject to 90 days' notice

No earlier access

Account must be opened online, but can then also be operated by phone

Access via nominated account

Interest is paid quarterly

Achieving a hat-trick with a third account making it into this list is Secure Trust Bank, with its 90-day notice deal paying a variable rate of 1.82% AER (1.81% gross). As the rest of its features match the other Secure Trust Bank deals in this chart, it can be considered a great alternative for those who don't want to give any more notice.

AER

Details

Charter Savings Bank95 Day Notice - Issue 20

1.81%

Minimum investment of £1,000

Further additions permitted

Withdrawals allowed subject to 95 days' notice being given

No earlier access

Internet-operated

Access via nominated current account

Interest paid on its anniversary

Completing the top six is Charter Savings Bank, with its account offering a rate of 1.81% for those who have at least £1,000 to invest. It requires 95 days' notice and once again earlier access is not possible on this online-exclusive account.

Information and rates correct as at: 29.11.2018

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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